A homeowner is responsible for the sewer line under the house and to the street. Older homes often have sewer line breaks or tree roots invading the interior of the line. Homeowner's insurance policies routinely exclude sewer line repairs from coverage as the insurance industry interprets this a...
Insurance companies often followthe 80% rule, which states that a homeowner must purchase coverage for at least 80% of the house's total replacement value, or they will not be fully covered. The insurance company will instead only reimburse a proportionate amount of the costs.5 How Do Insuran...
Sewer line insurance, also known as sewer backup coverage or sewer line endorsement, is a type of insurance that provides financial protection in the event of damage or issues related to your home’s sewer line. It is usually an add-on to your existing homeowner’s insurance policy. Sewer l...
Standard HO-3 home insurance policies cover damage to your home’s structure, other structures on your property and your personal belongings, as well your liability as a homeowner and the cost for things like food and a hotel if you are displaced after a covered loss. ...
Does home insurance cover mold? Homeowners insurance generally covers mold only when it's caused by a "covered peril" — an event your homeowners insurance policy will pay for, such as accidental water damage. These events must be sudden and accidental. For example, if your washing machine sud...
Home insurance doesn’t cover everything. The following are often excluded from coverage: Pest damage.Home insurance doesn't cover termite, rodent, insect, or other pest-related damage. It’s considered the homeowner's responsibility to notice and address the problem efficiently. ...
The Bottom Line Remember, property taxes are one of the most crucial bills to pay. If you don't pay, you could lose your home.4If you're late, you'll have to pay interest and penalties. Some areas offer assistance to special groups such as veterans, people who welfare benefits, people...
Home InsuranceTiny homes are no less vulnerable to accidents and forces of nature than traditional homes. Protect your investment with homeowner’s insurance for around $100 a month. However, finding companies willing to insure tiny homes can be challenging....
Homeowners insurance is not private mortgage insurance (PMI). PMI is carried by home buyers who put less than 20% down on a property purchase. It protects the lender if the homeowner defaults on their monthly mortgage payments. While PMI is strictly to cover the lender, homeowners insurance c...
Other structures.Your homeowner’s policy will typically include other structures on your property such a detached garage, fence, shed, or a swimming pool—but that pool will likely increase the cost of your policy. Personal property.Homeowner’s insurance may also cover your personal belongings, ...